Coast & County Electrical Distributors - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05241673

COAST & COUNTY ELECTRICAL DISTRIBUTORS

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J J Clayton

J L Blackwell

SECRETARY:

J L Blackwell

REGISTERED OFFICE:

Unit 1, SSP Buildings

Heath Road

Skegness

Lincolnshire

PE25 3ST

REGISTERED NUMBER:

05241673

ACCOUNTANTS:

Dexter & Sharpe

Chartered Certified Accountants

10/12 The Terrace

Spilsby

Lincolnshire

PE23 5JR

FIXED ASSETS

Tangible assets

4

40,182

17,828

CURRENT ASSETS

Stocks

5

30,836

25,865

Debtors

6

129,412

97,855

Cash at bank and in hand

208,969

191,221

369,217

314,941

CREDITORS

Amounts falling due within one year

7

174,355

131,405

NET CURRENT ASSETS

194,862

183,536

TOTAL ASSETS LESS CURRENT LIABILITIES

235,044

201,364

PROVISIONS FOR LIABILITIES

7,703

3,445

NET ASSETS

227,341

197,919

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

227,331

197,909

SHAREHOLDERS' FUNDS

227,341

197,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 23 July 2018 and were signed on its behalf by:

J J Clayton - Director

1.	STATUTORY INFORMATION

Coast & County Electrical Distributors Limited is a private company, limited by shares , registered in Not specified/Other.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 November 2016

5,475

794

27,055

Additions

25,065

1,075

-

Disposals

-

(513

)

-

At 31 October 2017

30,540

1,356

27,055

DEPRECIATION

At 1 November 2016

2,115

670

14,325

Charge for year

2,430

215

1,908

Eliminated on disposal

-

(513

)

-

At 31 October 2017

4,545

372

16,233

NET BOOK VALUE

At 31 October 2017

25,995

984

10,822

At 31 October 2016

3,360

124

12,730

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2016

14,300

5,063

52,687

Additions

-

2,337

28,477

Disposals

(4,700

)

(1,298

)

(6,511

)

At 31 October 2017

9,600

6,102

74,653

DEPRECIATION

At 1 November 2016

14,300

3,449

34,859

Charge for year

-

1,570

6,123

Eliminated on disposal

(4,700

)

(1,298

)

(6,511

)

At 31 October 2017

9,600

3,721

34,471

NET BOOK VALUE

At 31 October 2017

-

2,381

40,182

At 31 October 2016

-

1,614

17,828

5.

STOCKS

2017

2016

£

£

Stocks

30,836

25,865

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

123,204

93,530

Amounts owed by group undertakings

5,868

3,970

Prepayments

340

355

129,412

97,855

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

2,929

549

Trade creditors

115,928

82,151

Corporation Tax

40,754

33,156

VAT

10,724

10,938

Directors' current accounts

2,020

1,961

Accrued expenses

2,000

2,650

174,355

131,405

8.	ULTIMATE CONTROLLING PARTY

The controlling party is J J Clayton.

Mr J Clayton is the ultimate controlling party, by virtue of his majority shareholding in Clover Investments (Lincolnshire)

Limited.